CPM cooper metals limited

Ian at RIU (May 2024):"......over the next 6 to 12 months we've...

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    Ian at RIU (May 2024):

    "......over the next 6 to 12 months we've got RC drilling results (on four different prospects) coming out shortly (released this Friday) ....... we're also doing some geophysics some EM on our Cloncurry project we call it Oorindi Project, it's near the Eloise Mine (ASX: A1M) and it's never had any geophysics over that area before so we're looking for big targets there and we'll be drilling any EM anomalies that we discover......"
    https://hotcopper.com.au/data/attachments/6215/6215805-1357540214634aeb0bcccbd9e22f1b56.jpg

    Cooper holds such a large land/tenements of great potential (close to several big discoveries/mines), as a lean and mean/small company (per Ian) it is obviously very crucial in generating those (drilling) targets over 1600skm of tenure (don't know the mechanism behind, but it seems worthwhile to spend more on getting some best geos out there including Ian himself is a way to go?).
    To date, Cooper had some decent hits (10~25m of 1- 2% Cu etc.) at Raven and earlier King Solomon1 Prospects (yet not good enough to be a priority from the team?); and large and shallow but low grade Cu mineralisation at its Mafic Sweats prospects. The once hopeful Brumby Ridge is still a question mark maybe to Ian (too good to pass) but it seems many SHs already take BR as a non-event.
    Cooper drilled its Ardmore (EPM19125) South around mid-2023 (Post #: 69004303) but hasn't drilled Ardmore North targets as well as Bowlers Prospect yet (where some high grade Cu rockchips were also found). Ardmore Prospect sits right on the north border of CNB's Mt Hope Project/discovery (156kt contained Cu and 78koz Au):

    https://hotcopper.com.au/data/attachments/6216/6216012-f617aeacb85c05c74f92f46b274671ab.jpg
    https://hotcopper.com.au/data/attachments/6216/6216023-55aac36cbf9b8f6f9245d963238e79f8.jpg
    Another interesting tenement that hasn't been drill tested if im right is the CPM's EPM28087 (see above figure) which is very close to the Barbara Cu/Au deposit (Post #: 66477955):
    https://hotcopper.com.au/data/attachments/6216/6216035-9ebbbbccb94d7d79b375b8b64c320921.jpg
    And then the Gooroo Copper-Gold Project in WA (Post #: 74105130, some update from 3:20 mark).

    CPM still has a small register with total SOI of circa 78.3m (plus options) and a cash position of $3m - $3.5m at the end of June by the looks (their June 2023 quarterly spend was around $1m), though it looks like selling might continue with end-of-FY approaching plus possible lack of news (in drilling) in the next few months one would assume. A medium-term hold for me at this stage.
    Of course all from a lay person's observations. GLTAHs.





 
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